The doors to The Island in St Annes were closed after its owners decided to pull the plug on the seafront complex's three-screen cinema, bowling alley, amusement arcade and restaurant.

Yesterday's shock closure also saw ambitious £30m plans to transform St Annes seafront scrapped.

Bosses at The Island today blamed the recession for the demise of the 300,000sq ft site.

Owner Paul Taylor said: "The simple fact is not enough people were coming through the doors to sustain the business.

"We have become another victim of the recession and it was with a heavy heart I took the decision to close the business."

The complex opened in April 1993 on the site of the town's old opening air swimming baths and was originally called Pleasure Island.

It was hoped it could offer an alternative to the attractions on offer on the Promenade in Blackpool.

The Island cost more than £480,000 to construct and the owners, Carr Royd Leisure, took out a 50-year lease with Fylde Council as part of the deal.

In 1997 the cinema opened, but this has struggled in recent years.
The Island was granted permission for an outdoor static steam train in 1995, which was dismantled last year.

And since the restaurant opened in the early 1990s it has had six different names and owners.

Last year Mr Taylor revealed plans to develop St Annes seafront which included two 100-room hotels, a 10-pin bowling centre, five-screen cinema, a winter garden and an aquarium, all at The island site.

The scheme, which was to be privately financed, would have created 450 new jobs and could have been ready in time for the 2012 Open Golf Championship at Royal Lytham and St Annes.

"We will not be going ahead with our plans," Mr Taylor explained. "Our decision on this is purely based on the credit crunch and that we no longer have the funding."

Mr Taylor added: "We are very grateful for all the support we've had over the years from our staff and everyone involved with the business.
"It is very sad it has had to come to this."

John Coombes, leader of Fylde council, said the authority was saddened by news of The Island's closure.

He added: "This is a sad day for St Annes. The owners had big ambitions and we will now have to look at other avenues in which to move our masterplan (for the seafront) forward.

"One of the things we have to do is make sure whatever replaces The Island is something which is going to benefit the whole area.

"The problem we have seen is that while we get a lot of visitors to the Promenade a lot of people do not put their hands in their pockets."

The closure of the attraction comes just weeks after Tiggis and its associated bars were placed into administration.

Pontins in St Annes will also close at the end of this week.
John Moxham, chairman of St Annes Chamber of Trade, said all traders were sorry to see it close.

"At one time the future of St Annes seafront all seemed so rosy, but the recession has ruined its chances for the time being," he added.

The Island has suffered because of the credit crunch."